Transparency Market Research delivers key insights on the global commercial food refrigeration equipment market. In terms of revenue, the global commercial food refrigeration equipment market is estimated to expand at a CAGR of 6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the commercial food refrigeration equipment market report.
Commercial food refrigeration equipment comprises several equipment such as refrigerators & freezers, display cases, beverage dispensers, ice cream machines, ice machines, and refrigerated vending machines. The refrigerators segment is sub-segmented into walk-in refrigerators & freezers, and reach-in refrigerators & freezers. Reach-in refrigerators & freezers are classified into glass door merchandiser and beverage refrigerators. Freezers are classified into blast freezers and others.
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In this market report, TMR predicts that, the refrigerators & freezers segment is estimated to outpace other product types by the end of 2027 in the commercial food refrigeration equipment market. Increasing networks of food service equipment in numerous geographies is the primary reason for the growth in demand for commercial food refrigeration equipment across the globe. Increasing awareness among commercial restaurants about food preservation is expected to drive the growth of the commercial food refrigeration equipment market during the period of 2019 to 2027. Over the last decade, prominent countries in Asia Pacific have witnessed tremendous growth in population. All these factors are giving rise to the demand for commercial food refrigeration equipment. Technological developments in commercial refrigeration equipment are expected to boost the demand for the product during the forecast period. In addition, increasing food safety and quality regulations along with the increasing consumption of processed food and beverages is expected to further drive the growth of the commercial food refrigeration equipment market.
However, commercial refrigeration equipment consume high amounts of energy in order to preserve the food, which increases the operation costs for small food processors. Commercial refrigeration equipment is not a viable option for small establishments such as grocery stores and local markets due to budgetary constraints. These factors are expected to hamper the growth of the commercial food refrigeration equipment market over the forecast period.
Commercial Food Refrigeration Equipment Market: Prominent Regions
Asia Pacific is estimated to experience major growth in the commercial food refrigeration equipment market due to its growing food service sector. Also, the growing food distribution network in the region is surging the growth of the commercial food refrigeration equipment market. In developed regions such as North America and Europe, the growing demand for frozen foods plays a significant role in driving the sales of commercial food refrigeration equipment. This scenario has led to tremendous growth in the demand for blast freezers, walk-in refrigerators & freezers, hinged door merchandisers, etc., due to high durability and reliability. The Middle East and South America markets are expected to represent moderate growth in the commercial food refrigeration equipment market in the near future.
Key manufacturers in the commercial food refrigeration equipment market are focusing on gaining a competitive edge in the market by displaying synergies through close cooperation and collaboration in the areas of sales, marketing, and production. Manufacturers in the commercial food refrigeration equipment market are also expanding through organic methods such as increasing production capacity, so as to meet the growing demand.
Commercial Food Refrigeration Equipment Market: Key Players
Key players operating in the global commercial food refrigeration equipment market include Blue Star Limited, Carrier Corporation, Daikin Industries, Ltd., Danfoss A/S, Dover Corporation, Hussmann International, Inc., Illinois Tool Works, Inc., Lennox International, Inc., Metalfrio Solutions SA, and Standex International Corporation.
Global Commercial Food Refrigeration Equipment Market: Segmentation
Commercial Food Refrigeration Equipment Market by Product
Commercial Food Refrigeration Equipment Market by Application
Commercial Food Refrigeration Equipment Market by Region
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